Buying is more affordable than renting in these 4 Colorado counties
If you're looking for a home that's more affordable to buy than rent, consider broadening your search outside of the metro Denver area.
Why it matters: Even with home prices continuing to climb, the affordability gap is narrowing, which may signal the imminent end to what's been a steady run-up in home prices.
- In roughly 90% of the U.S., home prices are rising faster than wages.
Zoom in: Owning a median-priced home is more affordable than the average rent on a three-bedroom property in Fremont, Fort Morgan, Park and Pueblo counties, per data from a new report by ATTOM, a real estate database company.
The big picture: Here and nationwide it's cheaper to buy in rural areas and rent in cities and suburbs — particularly in the West and Northeastern parts of the country, where the least affordable homeownership markets are, Axios’ Jennifer Kingston reports.
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